Acree’s estimate for this year’s revenue and profit per share go to $23.6 million and 56 cents per share profit from a prior $44.5 million and $1.32. For 2014, his estimates move to $126.5 million and $3.59 from a prior $156 million and $4.01.

Acree’s new estimates put him in line with the Street consensus of $22.7 million and 45 cents, though, mind you, that is a consensus made up of only four analysts.

Remarks Acree, ” If the firm is able to deliver products in Q4 and successfully ramp Rochester in 2014, we expect the price target revision may have been practical but unnecessary.”

The company is set to report Q2 results on August 8th, and Acree writes that he is expecting some hints from management as to when its touch-sensitive mesh technology will find its way into PCs for the first time:

We’re also looking for the firm to give some help regarding its PC partner’s commitment and progress to placing full production orders. We understand that UNXL may not yet have full clarity itself as to the timing of these orders, but given Microsoft, in early July, confirmed that Windows 8.1 would be released to its OEM partners in late August, we expect component vendors will have to be receiving orders fairly shortly if systems are to be ready for the official pre-holiday retail release.

Acree writes that he’s getting more comfortable there will be some revenue in volume shipments of UniPixel’s products by Q4 of this year, though he thinks it unlikely it will be in high volume as the company’s “PC partner” is likely to start with the technology in “higher priced products where volume should be less” (Dell (DELL) is believed by analysts to be UniPixel’s PC OEM customer):

For the second quarter, we don’t expect any major surprises from the absolute numbers. In prior press releases, the company has said that delays in Windows 8.1 would not only likely push volume production into the 4th quarter, but it would also delay triggers for recognition of its NREs. While we’ve needed to move numbers for a while, we waited to get more comfort with the likelihood of Microsoft getting out for the holidays. Now that this looks more probable, we can adjust our numbers with some semblance of predictability. Likely Sales Trends: Revenue for the rest of 2013, will largely be a factor of the NREs, plus our forecast for moderate UniBoss production contributing to the 4th quarter. We’re expecting $0 sales for Q2, a $5 million NRE recognition in Q3, which should be triggered by production orders sometime in the third period. In Q4, we expect $10 million of NRE’s to be recognized, $5 million of which has already been received but had to be booked as deferred revenue. On top of the Q4 NREs, we expect production volumes to begin and likely average between 50,000 and 75,000 per month.

The financial impact of small volume of unit shipments won’t be large, he writes, relative to $10 million of “NREs” the company is likely to garner. But he thinks investors will be reassured by the mere fact of shipments.

Acree reflects on the importance of UniPixel’s partnership with Kodak:

We also recently had the opportunity to spend time with Herb Erhardt, Eastman Kodak VP of Digital Printing & Enterprise Partnership Businesses, who heads up the UniPixel/Kodak production partnership. While Herb didn’t share any great revelations and was quick to point out that there is still challenges and hurdles to work through, we did leave the discussion significantly more comfortable and confident that UNXL’s goals are obtainable. UNXL is continuing its internal production efforts in the Woodlands and in Lufkin, and we believe solid progress is being made. However, with Kodak functioning as a high-volume foundry partner, both are benefitting from the expertise, experience, and successes of the other. One example of this is the upgrades in printer technology that Kodak could share with UNXL once the partnership was official. Kodak has its line of commercial printers available for sale to the public, but it also has made internal advancements that improve accuracy, consistency and line widths. UNXL now benefits from the upgrades, both internally & in Rochester […] One of the things that make us particularly encouraged is how important this project appears to be to Kodak and its way forward. The firm looks highly committed to the pursuit of “functional printing” and Commercial Imaging as a long-term business strategy and a path out of bankruptcy. Kodak has been involved in Flexographic Printing for years, a form of plate printing on a flexible substrate, which led to it targeting functional printing about three years ago. We believe the strides Kodak has already made during this time should significantly benefit UniPixel’s growth potential.

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.